Although many separating couples have some idea as to what constitutes ‘property’, there is often some confusion when it comes to determining what exactly is ‘property of the relationship’ and thus subject to be examined in the property settlement agreement. A brief overview of what is considered ‘property of the relationship’ during property settlement agreement negotiations include
Assets owned either jointly or in separate names by yourself and your former spouse, for instance:
- Family home
- Holiday house
- Investment Properties
- Any cars or other vehicles
- Household appliances, furniture and other chattels
- Personal belongings (e.g. jewellery)
Assets under the control of yourself or your former spouse, including:
- Any businesses
- Superannuation
- Shares in family businesses
- Investment properties in family trusts
Any joint or separately held liabilities, such as:
- Mortgages
- Credit cards
Our specialist family law team can assist and advise in your property settlement. Our Accredited Family Law Specialists are able to look at the best outcome for you and give you advice as to your property, legal rights and entitlements.
For legal advice in relation to a property settlement agreement, contact us on 1800 300 170 or email us at familylaw@matthewsfolbigg.com.au.
You may also click to visit our Property Settlement information page.
